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Handy News

27 Feb 2024

Japan Continues to Lead Shipowner Rankings

© Carabay / Adobe Stock

VesselsValue has unveils this year’s top 10 shipowning nations, reviewing the total asset values for vessels by beneficial owner country. From Japan's resolute leadership in the top position with a USD 206.3 billion fleet to the emergence of Hong Kong at USD 44.7 billion, asset values and ownership strategies have changed considerably over the last 12 months, says Rebecca Galanopoulos-Jones, Senior Content Analyst, Veson Nautical.The data provided by VesselsValue and analysed by Veson is valid as of February 2024.

21 Feb 2024

ARC Keeps the Cargo Rolling

Flags on M/V ARC Defender.
Image courtesy ARC

With a fleet of nine U.S.-flag RoRo ships, American Roll-On Roll-Off Carrier Group (ARC), is the U.S.’ premier commercial RoRo carrier of U.S. government and military cargo. As the world becomes an increasingly contentious place, Eric P. Ebeling, President & CEO, ARC, discusses the vast capabilities of the ARC fleet and logistics network, as well as the challenges and opportunities ahead for U.S.-flag ships in the international trade.By the numbers’ is a simplistic means to gauge the size and shape of any shipping company…

19 Oct 2023

Choose the Right Software for Every Maritime Project

Michiel de Vliegher in front of the yard hall in Vlissingen (Photo: Shipbuilder)

Michiel de Vliegher, Damen: "Choose the right software for every maritime project"Since the beginning of his career, Michiel de Vliegher has been involved with data. One moment, he’s working on making ships more sustainable, and the next, he’s focused on improving shipbuilding processes. Since April of this year, he has been the Director of Damen Shiprepair Vlissingen. Together, we explore his experience with digitalisation and how he is making advancements in this area at his impressive shipyard. We also delve into the digital future.

09 Oct 2023

Ship Recycling Market Surges

Source: GMS

After a dire summer that saw over USD 100/LDT wiped off vessel recycling prices in Indian sub-continent ship recycling markets (and even Turkey to an extent), nearly all of the markets have enjoyed an upward resurgence entering the fourth quarter of the year.India has been the primary beneficiary of this recent resurgence with some stunning (container) purchases, some even approaching the USD 600/LDT mark once again, reports cash buyer GMS. As China too entered a holiday period…

17 Sep 2023

India and Pakistan Ship Recycling Market Bullish

Bullish buyers in both, the Indian and Pakistani markets, continue to push on for another week as they manage to secure some of the recently recorded, high-priced sales from both the dry bulk and container sectors, reports cash buyer GMS.“Some of the recent container sales in particular have caught the eyes of many in the industry, especially as levels gradually edge back up into the high USD 500s/LDT (approaching USD 600/LDT), thereby providing prospective owners of vintage units…

13 Jun 2023

Furetank Names Jonatan Höglund Deputy CEO

Jonatan Höglund (Photo: Furetank)

Swedish shipping company Furetank said its board of directors has appointed Jonatan Höglund to be the company’s new deputy CEO, marking a milestone of a new generation Höglund moving into top management of the family-owned company.The position has been vacant since Per-Anders Höglund retired in 2021.Jonatan Höglund has a bachelor's degree in marine engineering and is a certificated superintendent. He brings many years of experience as Furetank’s newbuilding inspector, overseeing the development and construction of the VINGA vessel series…

16 Mar 2023

Rebuild, Reuse, Recycle: Norwegian Yard Completes Two Retrofit Projects for Brazilian Offshore Vessel Owner

©Green Yard Kleven

Norway's Green Yard Kleven has completed and delivered two retrofit projects for the Brazilian shipowner Oceanica. Oceanicasub Vlll and Oceanicasub lX have been rebuilt from offshore supply vessels to advanced offshore vessels for ROV- and crane operations."Both rebuilding projects were largely based on reused equipment and focused on sustainability at the request of the shipowner, which is very relevant to our activity. Our experience from both new buildings, retrofit, and recycling of ships came in handy in the projects…

01 Feb 2023

WindServe Marine Secures Loan for Offshore Wind CTV Construction

File photo: WindServe Marine

WindServe Marine, a U.S. offshore wind support services company, has secured a loan from The Washington Trust Company, for the construction of three new 88-foot crew transfer vessels (CTV), recently commissioned by Ørsted, the largest offshore wind developer in the world. "Washington Trust was founded on the southwestern shoreline of Rhode Island and as a good corporate citizen, we are committed to protecting and preserving the local environment. Providing financing for alternative sources of energy that benefit this community aligns both with our business and sustainability benchmarks…

31 Jan 2023

Q&A: Ballast Water Management Market Matures

Image courtesy Ecochlor

Since the ballast water management system discussion started nearly two decades ago, a clear concern was the ability to fit new equipment on existing ships, placing a strain on both space and power. Last month we caught up with a few key suppliers to for their insights on market development.How many BWMS have you sold and installed to date?Maxime Dedeurwaerder, BIO-UV GroupLast year has proven to be the best on record, with roughly 200 BIO-Sea units delivered. All told, since we entered the ballast water market, we have about 700 units in service or pending commissioning.

03 Aug 2022

Simpson Spence Young to Open Genoa Office

© Luca / Adobe Stock

Shipbroker Simpson Spence Young (SSY) on Wednesday revealed it will open a new office in Genoa, Italy.The new SSY Genoa office will open this Autumn. Initially, the team that will be based there will focus on dry cargo, specifically handy, supramax and panamax, with a number of individuals from a local shipbroking firm joining the team.SSY's global head of dry cargo, Stanko Jekov, said, “We’re very pleased to be establishing a base in Genoa and continuing to grow our Dry Cargo division.

02 May 2022

Russian Attacks on Ukraine Grain Network a Move to Cut Competition - German Minister

For Illustration Only - A bulk carrier loading grain in Ukraine in 2021 - Credit: Elena/AdobeStock

Russian attacks on Ukraine's grain infrastructure look like attempts to reduce the competition in Russia's export markets, German Agriculture Minister Cem Oezdemir was reported as saying on Monday.Ukraine could lose tens of millions of tonnes of grain due to Russia's blockade of its Black Sea ports, triggering a food crisis that will hit Europe, Asia, and Africa, President Volodymyr Zelenskiy said on Monday.“We are repeatedly receiving reports about targeted Russian attacks on grain silos…

11 Mar 2022

NovaAlgoma Adds Five Secondhand Bulkers

(Photo: NovaAlgoma)

Algoma Central Corporation and Nova Marine announced their global short sea shipping joint venture NovaAlgoma has acquired five secondhand bulk carrier vessels, including three cement carriers from KGJ Cement in Northern Europe and two handy-size bulk carriers from Swire Bulk Holdings Pte. Ltd. of Singapore.“We carefully consider each opportunity for growth and these vessel purchases fit perfectly into our long-term plan for sustaining a profitable business alongside our partners at Nova Marine,“ said Gregg Ruhl, President and CEO of Algoma Central Corporation.

03 Feb 2022

ESAB Launches Robust Feed AVS Voltage-sensing Wire Feeder

(Photo: ESAB)

ESAB Welding & Cutting Products has launched the Robust Feed AVS voltage-sensing feeder, which eliminates the need for a power supply/control cable between the power source and the feeder. The design simplifies cable management in portable applications, eliminating a cable that could potentially get damaged. Voltage-sensing feeder technology also enables the feeder to work with either constant current (CC) or constant voltage (CV) power sources for greater flexibility.Robust Feed improves durability…

27 Jan 2022

Hafnia Grows Its Tanker Fleet by 44

Tanker shipping company Hafnia on Thursday announced it has completed its acquisition of 32 product/chemical tankers from Chemical Tankers and 12 LR1 tankers from Scorpio Tankers.Singapore-headquartered Hafnia, created through a merger between Hafnia Tankers and BW Tankers in 2019, now has an owned fleet of 152 vessels and commercially managed fleet of 242 vessels.“These transactions cement our position as the world's largest operator in the product and chemical tanker segment. The 44 new vessels are all compliant with the 2023 EEXI requirements and bring Hafnia closer to achieving IMO’s 2030 carbon intensity goal by 2028," said Hafnia's CEO…

11 Jan 2022

Simpson Spence Young Opens Athens Office

© aerial-drone / Adobe Stock

Shipbroker Simpson Spence Young (SSY) on Tuesday announced it has opened a new office in Athens, Greece.The new office, which is based in Glyfada, is being managed by SSY Dry Cargo broker Nicholas Vamvakaris and currently includes teams from the dry cargo division who focus on Cape, Panamax and the Handy Supra markets.SSY said it plans to expand the remit of this office in the near future to include other departments.Mark Richardson, chairman of SSY, said, “We are very pleased to open SSY Hellas, and to have our brokers present in Athens.

22 Dec 2021

Shipping Giants Will Plot Course for Landbound M&A

© sheilaf2002 / Adobe Stock

Shipping giants are heading for port, but not in the traditional sense. Companies like Denmark’s A.P. Moller-Maersk and Germany’s Hapag-Lloyd are riding a record valuation wave thanks to a year of sky-high container rates. Gobbling up land-based logistics rivals would be one use for the cash burning a hole in their pockets. It would also serve as a handy buffer against future supply-chain crunches.Pandemic upheaval has benefitted the shipping industry. Government support, such as checks mailed out to U.S. households, fueled a consumer spending spree. Freight rates have soared.

08 Sep 2021

Profitability Still a Way Off for Tanker Shipping -BIMCO

© momentscatcher / Adobe Stock

New virus mutations and outbreaks have slowed the recovery in global oil demand as some countries lock down again and international travel remains complicated.Drivers of demand and freight ratesTo say that the summer has not been kind to the crude oil shipping industry would be an understatement. Average earnings have dropped below $10,000 per day since June for all crude oil tankers, with many trades offering negative earnings; freight rates are not high enough to cover voyage expenses, let alone operating and financing costs.

16 Jun 2021

Global Ship Lease to Acquire Four Containerships

© donvictori0 / Adobe Stock

Global Ship Lease announced on Wednesday that it has agreed to purchase four 5,470 TEU Panamax containerships with an average age of approximately 11 years for an aggregate purchase price of $148 million.The ships are scheduled for delivery during the third quarter of 2021. The Company expects to fund the purchase price with cash on hand and senior secured debt.On delivery, the ships will be chartered to a liner operator for a firm period of three years each, with a charterer’s option for a period of an additional three years.

16 Jun 2021

Multimission Vessels: Interest Across All Sectors

Damen’s “Swiss army knife” Multicats are popular in Europe. Damen has recently contracted for the first of these vessels to be built in the U.S. (Photo: Damen)

The development and construction of multimission vessels (MMVs) remains active across the maritime market.The ability to perform multiple tasks when those different duties are needed is central to an MMV’s value. Multimission capabilities mean that an expensive asset doesn’t sit idle when it isn’t being used for a singular purpose, such as firefighting. This is particularly important for public sector officials who have to weigh costs and benefits across a wide range of demands…

23 Apr 2021

New Leadership for d’Amico's Dry Cargo Business

(Photo: The d'Amico Group)

The d'Amico Group announced Cesare d'Amico has taken over as chief executive officer of the Italian shipowner's dry cargo business unit.Cesare d'Amico, who already serves as CEO of d'Amico Società di Navigazione SpA, has always been directly involved in the company's strategic decisions relating to the dry cargo business unit, which operates a core fleet of 50 vessels mainly in the Post Panamax/ Kamsarmax, Supramax and Handy segments. An additional 20 vessels are chartered in…

20 Apr 2021

SSY Futures Completes First Handysize 38 FFA Trades

© alexmina / Adobe Stock

Newly launched SSY Futures Ltd announced it has completed its first Handysize 38,000-dwt FFA trades on both the Singapore Exchange (SGX) and European Energy Exchange (EEX) for the April and May contracts.Mark Douglas who is leading the new contract from SSY Futures FFA team, said, “It was extremely encouraging to see the opening days interest culminating in the April trade at 19000 and the May trades at 20500. The ever-growing liquidity down the curve is extremely promising and…

05 Mar 2021

Handysize 38kt Time Charter Average FFA is 'Perfect Timing'

© owr / Adobe Stock

Forward freight agreement (FFA) trades for a basket of 38,000-dwt handysize time charter rates will help operators take longer-term cover with less risk, says shipbroker Simpson Spence Young.Following an ever-strengthening charter market, SGX have confirmed a launch date for the new offering as April 19, 2021, with EEX aiming for early May pending regulatory approval. Both exchanges are keen to promote clearing of the new contract.The handysize futures market was previously based on the Baltic Exchange's old 28…

02 Mar 2021

United Product Tankers Names Schoeller Co-managing Director

German shipping company UPT United Product Tankers GmbH & Co. KG said Matthias A. Schoeller has been named co-managing director, succeeding Stefan Ciegelski who will retire by the end of June.Schoeller, having worked as the company's chartering manager for the last 10 years, will serve as co-managing director alongside Christos Matarangas, who has been at the helm of UPT for over a decade already.Ciegelski departs UPT after nearly 45 years in shipping, including 17 as one of the firm's managing directors.“I am leaving at a time of change but have strong confidence that our refreshed management, quality service ethos and the professionalism of the team will master all challenges and continue to expand and strengthen UPT…